HDLV.L vs. SPMV.L
HDLV.L (Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist) and SPMV.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc)) are both S&P 500 funds - HDLV.L tracks the S&P 500 Low Volatility High Dividend Index while SPMV.L tracks the S&P 500 Minimum Volatility Net in USD. Both are passively managed. Over the past 10 years, HDLV.L returned 6.77%/yr vs 9.98%/yr for SPMV.L. A 0.70 correlation means they provide meaningful diversification when combined. HDLV.L charges 0.30%/yr vs 0.20%/yr for SPMV.L.
Performance
HDLV.L vs. SPMV.L - Performance Comparison
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Returns By Period
In the year-to-date period, HDLV.L achieves a 13.01% return, which is significantly higher than SPMV.L's 4.24% return. Over the past 10 years, HDLV.L has underperformed SPMV.L with an annualized return of 6.77%, while SPMV.L has yielded a comparatively higher 9.98% annualized return.
HDLV.L
- 1D
- 0.58%
- 1M
- 5.47%
- 6M
- 10.68%
- YTD
- 13.01%
- 1Y
- 15.42%
- 3Y*
- 12.28%
- 5Y*
- 7.64%
- 10Y*
- 6.77%
SPMV.L
- 1D
- -0.19%
- 1M
- 0.14%
- 6M
- 4.46%
- YTD
- 4.24%
- 1Y
- 10.52%
- 3Y*
- 12.84%
- 5Y*
- 8.28%
- 10Y*
- 9.98%
HDLV.L vs. SPMV.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HDLV.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist | 13.01% | 3.58% | 16.39% | 1.20% | 0.44% | 24.81% | -10.91% | 18.81% | -7.12% | 11.37% |
SPMV.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) | 4.24% | 11.55% | 18.68% | 9.94% | -11.05% | 24.98% | 7.41% | 31.25% | -5.35% | 16.05% |
Correlation
The correlation between HDLV.L and SPMV.L is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since May 11, 2015 | 0.70 |
Over the past year, the correlation between HDLV.L and SPMV.L has dropped to 0.37 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.
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Return for Risk
HDLV.L vs. SPMV.L — Risk / Return Rank
HDLV.L
SPMV.L
HDLV.L vs. SPMV.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist (HDLV.L) and iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HDLV.L | SPMV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.22 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 1.68 | +0.46 |
| Martin ratioReturn relative to average drawdown | 4.85 | 6.62 | -1.76 |
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Drawdowns
HDLV.L vs. SPMV.L - Drawdown Comparison
The maximum HDLV.L drawdown since its inception was -41.00%, which is greater than SPMV.L's maximum drawdown of -33.34%. Use the drawdown chart below to compare losses from any high point for HDLV.L and SPMV.L.
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Drawdown Indicators
| HDLV.L | SPMV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.00% | -33.34% | -7.66% |
Max Drawdown (1Y)Largest decline over 1 year | -7.16% | -6.23% | -0.93% |
Max Drawdown (3Y)Largest decline over 3 years | -14.56% | -12.31% | -2.25% |
Max Drawdown (5Y)Largest decline over 5 years | -20.04% | -18.58% | -1.46% |
Max Drawdown (10Y)Largest decline over 10 years | -41.00% | -33.34% | -7.66% |
Current DrawdownCurrent decline from peak | 0.00% | -0.75% | +0.75% |
Average DrawdownAverage peak-to-trough decline | -5.65% | -3.13% | -2.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 1.59% | +1.58% |
Volatility
HDLV.L vs. SPMV.L - Volatility Comparison
Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist (HDLV.L) has a higher volatility of 3.90% compared to iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) (SPMV.L) at 1.82%. This indicates that HDLV.L's price experiences larger fluctuations and is considered to be riskier than SPMV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDLV.L | SPMV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 1.82% | +2.08% |
Volatility (6M)Calculated over the trailing 6-month period | 8.53% | 6.37% | +2.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.08% | 8.50% | +2.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.04% | 12.67% | +1.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.13% | 13.77% | +2.36% |
HDLV.L vs. SPMV.L - Expense Ratio Comparison
HDLV.L has a 0.30% expense ratio, which is higher than SPMV.L's 0.20% expense ratio.
Dividends
HDLV.L vs. SPMV.L - Dividend Comparison
HDLV.L's dividend yield for the trailing twelve months is around 3.42%, while SPMV.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDLV.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist | 3.42% | 3.91% | 3.54% | 4.04% | 3.56% | 3.37% | 4.35% | 3.69% | 3.79% | 3.07% | 3.07% | 1.89% |
SPMV.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HDLV.L and SPMV.L have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPMV.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPMV.L is cheaper with a 0.20% expense ratio, compared with 0.30% for HDLV.L.
HDLV.L tracks S&P 500 Low Volatility High Dividend Index, while SPMV.L tracks S&P 500 Minimum Volatility Net in USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.30% for HDLV.L and 0.20% for SPMV.L.
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